Profund Advisors LLC reduced its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 11.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,510 shares of the oil and gas company’s stock after selling 12,853 shares during the period. Chevron makes up about 0.9% of Profund Advisors LLC’s portfolio, making the stock its 14th biggest holding. Profund Advisors LLC’s holdings in Chevron were worth $16,445,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in CVX. NewSquare Capital LLC raised its holdings in Chevron by 52.3% in the 1st quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 67 shares in the last quarter. HBC Financial Services PLLC acquired a new position in Chevron in the 1st quarter valued at $37,000. Worth Asset Management LLC acquired a new position in Chevron in the 1st quarter valued at $36,000. Tobam acquired a new position in Chevron in the 1st quarter valued at $38,000. Finally, Operose Advisors LLC raised its holdings in Chevron by 80.0% in the 1st quarter. Operose Advisors LLC now owns 234 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 104 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on CVX shares. StockNews.com began coverage on Chevron in a report on Thursday, October 5th. They set a “hold” rating for the company. HSBC boosted their price objective on Chevron from $180.00 to $184.00 in a research report on Wednesday, August 9th. Sanford C. Bernstein upgraded Chevron from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $184.00 to $182.00 in a research report on Thursday, November 2nd. Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $200.00 in a research report on Monday, October 30th. Finally, Truist Financial reduced their price target on Chevron from $175.00 to $169.00 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $187.89.
Chevron Stock Up 1.9 %
Shares of Chevron stock traded up $2.69 on Friday, hitting $144.46. The company had a trading volume of 11,077,904 shares, compared to its average volume of 12,759,151. The stock has a market capitalization of $272.70 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 0.73 and a beta of 1.16. Chevron Co. has a 1 year low of $140.74 and a 1 year high of $187.81. The stock has a 50 day moving average of $158.68 and a 200-day moving average of $158.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $3.05 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.65). The company had revenue of $54.08 billion during the quarter, compared to analysts’ expectations of $51.41 billion. Chevron had a return on equity of 16.15% and a net margin of 12.11%. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period last year, the company earned $5.56 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 13.59 earnings per share for the current year.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Thursday, November 16th. Chevron’s dividend payout ratio is presently 44.84%.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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